Using your account as a saving account
You can save a maximum of £100,000 in your share account. Currently, you can earn 0.5% interest on balances between £1 to £100,000. Interest is calculated daily but is credited at the end of each financial year.
Managing my Account
Usually you can manage your account in person at any of the Member Service Points available at 27 of our stores. However unfortunately at present as a result of lockdown as well as a system upgrade we have been forced temporarily to close these offices – so you will need to use other routes listed below to both pay into and withdraw funds from your account
Online: Complete a share account withdrawal form or bank payment request form online at www.eastofengland.coop/memberenquiries or download the form, complete it and send it back to us by email or post.
By email or phone: You can request a share account withdrawal form or bank payment request form from the Membership Support Team [contact details see below] Return the completed form back to us and we will process your request. You can withdraw your funds either by BACS transfer direct into your bank account – or we can issue you with a cheque.
For BACS transfers you will need to supply two forms of identification, one of which must show a recent photo and another with your current address (a utility bill is best)
You can pay into your account by post by sending a cheque to the Membership Support Team – contact details below. Make cheques payable to ‘East of England Co-op’ and make sure you write your share account number, name and postcode on the back of the cheque.
Electronic transfer: To make a payment into your share account using your bank's own telephone or internet banking service you will need to enter our sort code, our account number and your share account number.
Sort code: 090222
Account number: 10521441
Account name: East of England Co-op
Reference: Please use your share account number
Can I leave less than £1 share balance in my account?
If withdrawals are made leaving a balance of less than £1 you will cease to be a full member and any voting rights would be lost. If your balance falls below £1, we will reclaim the balance from your next dividend.
How can I order a Share Account Statement?
Your Share Account Statement is a record of your share transactions. To order a statement, contact the Membership Support Team.
How do I contact the Membership Support Team?
By phone: 0800 389 5354
By email: firstname.lastname@example.org (Monday to Fridays, 8.30am to 5.00pm)
By post: Member Support Team, Wherstead Park, The Street, Wherstead, Ipswich, Suffolk IP9 2BJ
Is there any risk?
Members are advised that share investments with the East of England Co-operative are classified as risk capital. In the unlikely event that the society fails, you may not have all or any of your investment returned to you. You can withdraw your funds without penalty. Unlike Banks and Building Societies, the Society is not subject to prudential supervision by the Financial Conduct Authority.
Income Tax Return
Tax on interest is paid gross, you may need to declare this on your tax return depending on your individual circumstances.
For more information about the East of England Co-op including Presidents statement, governance, details about our Board of Directors and Annual Report and Accounts, click here.